Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered a return of 11.02% net of fees (11.18% gross of fees), trailing the Russell 2000 Index’s 14.03% total return. Both security selection and allocation effects drove the underperformance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Small Cap Equity Strategy featured stocks such as Belden Inc. (NYSE:BDC) in the fourth quarter 2023 investor letter. Headquartered in St. Louis, Missouri, Belden Inc. (NYSE:BDC) offers a portfolio of signal transmission solutions. On January 11, 2024, Belden Inc. (NYSE:BDC) stock closed at $73.73 per share. One-month return of Belden Inc. (NYSE:BDC) was -3.88%, and its shares lost 8.46% of their value over the last 52 weeks. Belden Inc. (NYSE:BDC) has a market capitalization of $3.073 billion.
Aristotle Small Cap Equity Strategy stated the following regarding Belden Inc. (NYSE:BDC) in its fourth quarter 2023 investor letter:
“Belden Inc. (NYSE:BDC), a manufacturer and seller of connectors, cables, and networking gear to help its customers acquire, transmit, manage, and orchestrate data, declined during the period amid a weaker demand environment, pauses in capital spending, and channel de-stocking. Despite these near-term pressures, we maintain our position as we believe the company’s ongoing transition from being mostly a commoditized component supplier to a complete solutions provider can drive margin expansion. Furthermore, we believe the company’s focus on serving secularly attractive end markets of Industrial Automation, Cybersecurity, Broadband & 5G, and Smart Buildings will position the company favorably over the long term.”
A satellite dish installation atop a modern building, symbolizing the power of signal transmission solutions.
Belden Inc. (NYSE:BDC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Belden Inc. (NYSE:BDC) at the end of third quarter which was 26 in the previous quarter.
We discussed Belden Inc. (NYSE:BDC) in another article and shared the list of tech stocks with low PE ratios. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
